The Board of Directors of HELP International Corporation Berhad ("HELP") wishes to announce that HIC is expanding its education business to set up a private primary and secondary international school ("the HELP International School"). 2. DETAILS OF THE HELP INTERNATIONAL SCHOOL HELP has on 16 January, 2012 received an approval from the Education Ministry to establish a private international school to be located within the vicinity of HELP University’s flagship green technology campus in Subang 2. The HELP International School will be operated by HELP Education Services Sdn. Bhd., a wholly-owned subsidiary of HELP. 3. RATIONALE The demand for quality private education in Malaysia continues to grow strongly with the population growing in affluence. There are expectations of increase of expatriate and international students arrival in Malaysia due to the Greater Kuala Lumpur-National Key Economic Area’s target of increasing expatriates and also the returning diaspora population. The establishment of the HELP International School is part of the Group‘s long term plans to expand its educational presence in the country. 4. FINANCIAL EFFECTS The establishment of the HELP International School will not have any effect on the issued and paid-up share capital and the Net Assets of HELP. It is also not expected to have an immediate material effect on the earnings per share of the Group for the financial year ending 31 October 2012. 5. SOURCE OF FUNDS The establishment of the HELP International School and the premises of the school will be financed by internally generated funds and external borrowings. 6. APPROVAL OF SHAREHOLDERS The establishment of the HELP International School does not require the approval of the shareholders. 7. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTEREST None of the Directors and/or major shareholders and/or persons connected with the Directors or major shareholders have any interest, direct or indirect, in the above project.
The Board of Directors of HELP is pleased to attach herewith a Press Release entitled "HELP receives nod from Ministry of Education to build international school".